Picton Property Income Limited Sustainability Report 2022

Appendix

Introduction

Environmental Focus

Stakeholder Engagement

Governance

Data assurance

To: the stakeholders of Picton Independent assurance statement by Upstream Sustainability Services, JLL (‘Upstream’) to the stakeholders of Picton Property Income Limited (‘Picton’) concerning the data and associated GHG emissions used in its 2022 GRESB Submission and presented in its EPRA tables for the period 1 January 2021 to 31 December 2021.

Independence of assurance Due to our expertise and experience with non-financial information, sustainability management and social and environmental issues, we have the competencies required to conduct this independent assurance engagement. We are bound by the JLL Code of Business Ethics and are independent as defined by AA1000AS v3. JLL – Upstream Sustainability Services Robbie Platais Senior Sustainability Consultant 30 Warwick Street London W1B 5NH Robert Moore Senior Sustainability Consultant 30 Warwick Street London W1B 5NH www.jll.com

The scope of our data testing was limited to 2021 calendar year. We tested a sample of 444 data points from a total of 37 data sources (e.g., meters or waste disposal routes) from properties within Picton’s portfolio that are reporting environmental data. The scope of AA1000 Assurance is limited based on the amount of interaction and information provided. Material from Picton and its data management team, were provided as part of the evidence, these included policy, and process documents, the 2021 sustainability report, sustainability and NZC action plans etc, publicly available information was also accessed via the corporate website. A: E valuation of Picton’s adherence to the AA000 accountability principles (AA1000AP2018) of inclusivity, materiality, responsiveness, and impact Based on the scope of work described above, nothing has come to our attention to suggest that Picton did not adhere to the majority of the criteria under the principles of inclusivity, materiality, responsiveness, and impact for 2021. B: Evaluation of the reliability of the specified sustainability performance information and associated data collection and management processes and systems Based on the scope of the work described above, nothing has come to Upstream’s attention that causes it to believe that the specified Energy (Gas and Electricity), Water and Waste performance information and associated GHG emissions are not fairly stated for Picton.

Scope of work Picton engaged Upstream to provide independent assurance of Energy (Electricity and Gas), Water and Waste data and GHG emissions relevant to its 2022 GRESB submission and EPRA tables. The engagement was Type 2 moderate assurance in accordance with the AA1000AS v3 standard which consisted of: A. Evaluation of Picton’s adherence to the AA1000 AccountAbility Principles (AA1000AP 2018) of inclusivity, materiality and responsiveness and impact; B.Evaluation of the reliability of the specified sustainability performance information and associated data collection and management processes and systems.

Responsibility The management of Picton is responsible for the completion of the GRESB submission and EPRA tables and all statements and figures contained therein. Upstream’s responsibility was to complete the assurance process based on the data provided by Picton’s data management team, prepare this assurance statement and to provide a report on its findings for the management of Picton. Level of assurance and limitations Upstream provided a moderate level of assurance which included desktop review, management and property level data verification and evidence gathering from internal sources and third parties. The verification did not include financial data, technical descriptions of or information relating to buildings or other information not related to sustainability.

The information compiled in this document and any opinions expressed herein are given in good faith but are derived from a number of sources and, as such, are liable to change. Jones Lang LaSalle Limited, gives no warranty, either express or implied, as to the accuracy or completeness of any information or opinion or projection set forth herein. Jones Lang LaSalle shall not, in any circumstances, be under any liability for any direct or consequential loss or damage of any nature whatsoever, and howsoever arising, whether sustained by the organisation/person for whom this report has been prepared or its/his servants or agents, or any third party, including without limitation loss of profit or other revenues, loss of business, costs, expenses, charges levied by professional or other advisers, fines, penalties, damages (including interests and costs) that may be awarded to or agreed with any third party in respect of any claim or action.